I’ve always thought that 50% was too steep for us to get the level of participation we’re hoping for. But if we’re approaching it as a fundraiser rather than something to bring in artists etc I could see the logic behind it. That, however, limits us to artists who already support LMN and are willing to participate in our fundraiser.
I had a conversation with one of my colleagues who runs a jewelry making business on the side about this. She said that if someone wants to take 50% she expects that the piece will be in their gallery or space for months and actively be sold rather than it being a one day event where things may or may not sell. She said that as a maker who does this as a side business she would not participate in this type of event at that cost level because at the end of the day it just not worth it.
I think it depends on our purpose and who the artists are that we’re hoping to attract. At 50% we’re probably looking at something that our own membership will support because they have a vested interest in supporting an LMN fundraiser but will see limited outside participation. At a 20%-30% I think we’re more likely to bring in more artists from outside of LMN but we make less profit on each sale.